Gold Showing Resilience Despite Outflows - ETF Securities

Despite ETF outflows in gold, the metal continues to show resilience, says Mike McGlone, director of research for ETF securities. Live from our Wall Street studio, McGlone says gold is the only metal up in June on the back of reduced Fed tightening expectations following Wednesday's FOMC meeting and global economic concerns. Gold is up about 1% this month, he adds. The correlation between Fed funds futures and the gold price is near the highest ever, McGlone says. Silver has been the best performer in 2015, up 3% year-to-date, but is down 3% on the month, he says. While many analysts are saying that palladium has the best story fundamentally, McGlone is not biting. He explains that palladium is being pressured by China growth fears and profit taking in ETFs. Kitco News, June 19, 2015. (show less)

Despite ETF outflows in gold, the metal continues to show resilience, says Mike McGlone, director of research for ETF securities. Live from our Wall Street studio, McGlone says gold is the only metal up in June on the back of reduced Fed tightening expectations following Wednesday's FOMC meeting and global economic concerns. Gold is up about 1% this month, he adds. The correlation between Fed funds futures and the gold price is near the highest ever, McGlone says. ... (read more)

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